Eastgroup Properties Inc Q2 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst : And Marshall, can you provide some color on your comments that the companies plan on increasing safety stock? I know that's been a conversation that's been going around now for the past couple of quarters. Have your tenants indicated that they plan or need to hold more inventory to sustain some of these potential supply chain shocks? I mean have they voiced that directly to you yet?

Question: Michael Albert Carroll - RBC Capital Markets, Research Division - Analyst : And then I guess, how broad-based do you think this will be among tenants? I mean will the larger tenants be the ones mostly driving the higher inventory? Or do you think smaller tenants will need to do that, too? And I guess -- and if so they do hold more inventory, where are they going to hold it out at? I mean is it going to be in the infill of shallow bay space they you have? Or is it going to be more in the outskirts of some of these major cities? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 29, 2020 / 3:00PM, EGP.N - Q2 2020 Eastgroup Properties Inc Earnings Call

Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst : Marshall, a couple of topics that seem to surface pretty often. I just wanted to get an update from you. Number one, what are your tenants telling you about their ability to source labor? And number two is just any color on construction costs? We know the growth had been coming down. Are we actually seeing material declines in construction?

Question: William Andrew Crow - Raymond James & Associates, Inc., Research Division - Analyst : Marshall, on the land -- development land, any indication that it is -- the competition for the land is easing a little bit or that more owners are looking to liquidate land in order to maybe pay for other investments given the economic environment?